Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
DexCom Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | DexCom Inc. net fixed asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | DexCom Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | DexCom Inc. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | DexCom Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover
DexCom Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 2,909,800) | 2,448,500) | 1,926,700) | 1,476,000) | 1,031,600) | |
| Property and equipment, net | 1,055,600) | 801,800) | 515,300) | 321,300) | 183,100) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 2.76 | 3.05 | 3.74 | 4.59 | 5.63 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Abbott Laboratories | 4.76 | 4.81 | 3.83 | 3.97 | — | |
| Cigna Group | 47.53 | 46.73 | 37.85 | 34.45 | — | |
| CVS Health Corp. | 24.98 | 22.56 | 21.25 | 21.24 | — | |
| Elevance Health Inc. | 36.07 | 34.94 | 34.69 | 32.92 | — | |
| Humana Inc. | 28.71 | 26.97 | 32.05 | 32.93 | — | |
| Intuitive Surgical Inc. | 2.62 | 3.04 | 2.76 | 3.52 | — | |
| Medtronic PLC | 5.85 | 5.77 | 5.99 | 6.54 | 6.51 | |
| UnitedHealth Group Inc. | 31.81 | 31.81 | 29.64 | 27.60 | — | |
| Net Fixed Asset Turnover, Sector | ||||||
| Health Care Equipment & Services | 22.49 | 21.55 | 20.28 | 19.95 | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Health Care | 10.50 | 10.29 | 9.54 | 9.64 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= 2,909,800 ÷ 1,055,600 = 2.76
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | DexCom Inc. net fixed asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
DexCom Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 2,909,800) | 2,448,500) | 1,926,700) | 1,476,000) | 1,031,600) | |
| Property and equipment, net | 1,055,600) | 801,800) | 515,300) | 321,300) | 183,100) | |
| Operating lease right-of-use assets | 80,000) | 88,100) | 93,300) | 71,500) | —) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 1,135,600) | 889,900) | 608,600) | 392,800) | 183,100) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.56 | 2.75 | 3.17 | 3.76 | 5.63 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Abbott Laboratories | 4.25 | 4.26 | 3.42 | 3.56 | — | |
| Cigna Group | 43.23 | 41.37 | 33.46 | 30.72 | — | |
| CVS Health Corp. | 10.46 | 9.09 | 8.04 | 7.77 | — | |
| Elevance Health Inc. | 31.64 | 30.12 | 29.26 | 27.82 | — | |
| Humana Inc. | 24.76 | 22.09 | 27.07 | 27.22 | — | |
| Intuitive Surgical Inc. | 2.53 | 2.93 | 2.66 | 3.32 | — | |
| Medtronic PLC | 5.06 | 4.84 | 5.02 | 6.54 | 6.51 | |
| UnitedHealth Group Inc. | 21.54 | 21.54 | 19.55 | 18.97 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Health Care Equipment & Services | 14.87 | 13.78 | 12.53 | 12.33 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Health Care | 8.48 | 8.17 | 7.50 | 7.58 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 2,909,800 ÷ 1,135,600 = 2.56
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | DexCom Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2020 to 2021 and from 2021 to 2022. |
Total Asset Turnover
DexCom Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 2,909,800) | 2,448,500) | 1,926,700) | 1,476,000) | 1,031,600) | |
| Total assets | 5,391,700) | 4,863,600) | 4,290,500) | 2,395,000) | 1,916,000) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.54 | 0.50 | 0.45 | 0.62 | 0.54 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Abbott Laboratories | 0.59 | 0.57 | 0.48 | 0.47 | — | |
| Cigna Group | 1.25 | 1.11 | 1.02 | 0.98 | — | |
| CVS Health Corp. | 1.41 | 1.25 | 1.16 | 1.15 | — | |
| Elevance Health Inc. | 1.51 | 1.41 | 1.39 | 1.33 | — | |
| Humana Inc. | 2.15 | 1.87 | 2.17 | 2.21 | — | |
| Intuitive Surgical Inc. | 0.48 | 0.42 | 0.39 | 0.46 | — | |
| Medtronic PLC | 0.35 | 0.32 | 0.32 | 0.34 | 0.33 | |
| UnitedHealth Group Inc. | 1.31 | 1.34 | 1.30 | 1.38 | — | |
| Total Asset Turnover, Sector | ||||||
| Health Care Equipment & Services | 1.22 | 1.13 | 1.08 | 1.07 | — | |
| Total Asset Turnover, Industry | ||||||
| Health Care | 0.81 | 0.76 | 0.70 | 0.71 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Total asset turnover = Revenue ÷ Total assets
= 2,909,800 ÷ 5,391,700 = 0.54
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | DexCom Inc. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Equity Turnover
DexCom Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 2,909,800) | 2,448,500) | 1,926,700) | 1,476,000) | 1,031,600) | |
| Stockholders’ equity | 2,131,800) | 2,251,500) | 1,826,500) | 882,600) | 663,300) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.36 | 1.09 | 1.05 | 1.67 | 1.56 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Abbott Laboratories | 1.19 | 1.20 | 1.06 | 1.03 | — | |
| Cigna Group | 4.00 | 3.66 | 3.16 | 3.36 | — | |
| CVS Health Corp. | 4.53 | 3.87 | 3.86 | 4.00 | — | |
| Elevance Health Inc. | 4.29 | 3.80 | 3.64 | 3.25 | — | |
| Humana Inc. | 6.04 | 5.15 | 5.54 | 5.35 | — | |
| Intuitive Surgical Inc. | 0.56 | 0.48 | 0.45 | 0.54 | — | |
| Medtronic PLC | 0.60 | 0.59 | 0.57 | 0.61 | 0.59 | |
| UnitedHealth Group Inc. | 4.14 | 3.98 | 3.90 | 4.17 | — | |
| Equity Turnover, Sector | ||||||
| Health Care Equipment & Services | 3.34 | 3.03 | 2.91 | 2.94 | — | |
| Equity Turnover, Industry | ||||||
| Health Care | 2.20 | 2.11 | 2.08 | 2.08 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Equity turnover = Revenue ÷ Stockholders’ equity
= 2,909,800 ÷ 2,131,800 = 1.36
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | DexCom Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |